Medical liability premiums dropping nationwide
side note: Here is the notion that is difficult to convey to the layman: medical malpractice insurance premiums are dropping, and have been for a few years, but tort reform is still necessary to better the healthcare system.
Medical liability premiums have fallen for the fourth straight year in a row, aided by a drop in the volume of lawsuits filed, according to the latest annual update by researchers focused on the issue.
The Medical Liability Monitor survey concluded that 94 percent of med mal premiums were level or fell in 2009. Thirty-six percent fell, down from 43 percent last year, and 58 percent held steady, up from 50 percent the previous year.
Jury awards in medical malpractice cases continue to climb, the study found. This has prevented premiums from falling to levels seen before a premium spike in the early 2000s.
That being said, premium increases have slowed significantly, companies note. This year, only 6 percent of premiums nationally went up, down from 7 percent last year and 16 percent in ’07. Most increases were under 10 percent, the report notes.